If I own a home with my ex-husband and our divorce has been finalized, and he is currently living in the home we own jointly, do I need to claim the home in any way on my personal income tax return if we are filing separately? Or would I just need to claim the home when it’s sold at some point to pay capital gains tax?

July 25th, 2024

I received a sign-on bonus, minus taxes, and am planning to leave before the full six months. Do I pay back the net amount or the full gross amount?

August 2nd, 2024

Will my Social Security overpayment affect my estranged wife's Social Security payments if she plans to file for benefits at 65 based on her own work record?

September 13th, 2024

When selling a house for $200,000 but having to pay off a $80,000 mortgage, how should the selling price be reported for tax purposes, and where should the mortgage repayment be entered on tax forms?

September 20th, 2023

I received two 1099-R forms from different companies for the same amount of approximately $19,000, resulting in being taxed for $38,000 instead of $19,000. I retired from General Electric Healthcare in 2020 and had a pension plan through them. In 2023, GE Healthcare transferred my retirement account balance to me, and I attempted to roll it over into a traditional IRA. However, due to the minimum amount required to open an IRA annuity, I had to cancel the annuity and received a refund with federal tax withheld. Now, I am taxed for both the original amount and the annuity amount. How can I avoid being taxed for both amounts on my federal income tax form?

January 22nd, 2024